TEXAS PROMULGATED CONTRACT FORMS
COMPREHENSIVE EXAM 2026 COMPLETE
QUESTIONS AND SOLUTIONS 100% CORRECT
◉ Buyer and seller.
a. Assumption
b. Parties
c. Government loans
d. Non-realty items
e. Legal description. Answer: B
◉ The specifics of the location and size of a property.
a. Assumption
b. Parties
c. Government loans
d. Non-realty items
e. Legal description. Answer: E
,◉ The agreement by the buyer to pay the seller's existing mortgage
as part of a contract for sale.
a. Assumption
b. Parties
c. Government loans
d. Non-realty items
e. Legal description. Answer: A
◉ Mortgages insured or guaranteed by the U.S. Government.
a. Assumption
b. Parties
c. Government loans
d. Non-realty items
e. Legal description. Answer: C
◉ _________________ collectively refers to land, improvements and
accessories.
a. The estate
b. The property
,c. The listing
d. The homestead. Answer: B
◉ The Third Party Financing Addendum for Credit Approval cannot
be used for ________________.
a. VA guaranteed loans
b. FHA insured loans
c. Seller Financing
d. Texas Veterans Loans. Answer: C
◉ The sales price is equal to __________________ in the 1-4 Family
Residential Contract.
a. The loan amount plus the cash portion
b. Paragraph 3.A plus Paragraph 3.B
c. The amount borrowed plus the down payment
d. All of the above. Answer: D
◉ Accessories include _______________, according to TREC-
promulgated contract forms.
, a. Refrigerators
b. Stoves
c. Washing machines
d. Gas dryers. Answer: B
◉ Exclusions to the sale must be removed __________________.
a. Prior to delivery of possession
b. At the convenience of the seller
c. When the offer becomes a binding contract
d. Two days prior to closing. Answer: A
◉ A(n) _________________ occurs when a buyers assumes and agrees to
pay the seller's existing mortgage.
a. Loan assumption
b. Seller liability
c. Seller lien
d. Credit approval. Answer: A
◉ Paragraph C of the Seller Financing Addendum refers to the
_________________, and specifies the method of repayment.
COMPREHENSIVE EXAM 2026 COMPLETE
QUESTIONS AND SOLUTIONS 100% CORRECT
◉ Buyer and seller.
a. Assumption
b. Parties
c. Government loans
d. Non-realty items
e. Legal description. Answer: B
◉ The specifics of the location and size of a property.
a. Assumption
b. Parties
c. Government loans
d. Non-realty items
e. Legal description. Answer: E
,◉ The agreement by the buyer to pay the seller's existing mortgage
as part of a contract for sale.
a. Assumption
b. Parties
c. Government loans
d. Non-realty items
e. Legal description. Answer: A
◉ Mortgages insured or guaranteed by the U.S. Government.
a. Assumption
b. Parties
c. Government loans
d. Non-realty items
e. Legal description. Answer: C
◉ _________________ collectively refers to land, improvements and
accessories.
a. The estate
b. The property
,c. The listing
d. The homestead. Answer: B
◉ The Third Party Financing Addendum for Credit Approval cannot
be used for ________________.
a. VA guaranteed loans
b. FHA insured loans
c. Seller Financing
d. Texas Veterans Loans. Answer: C
◉ The sales price is equal to __________________ in the 1-4 Family
Residential Contract.
a. The loan amount plus the cash portion
b. Paragraph 3.A plus Paragraph 3.B
c. The amount borrowed plus the down payment
d. All of the above. Answer: D
◉ Accessories include _______________, according to TREC-
promulgated contract forms.
, a. Refrigerators
b. Stoves
c. Washing machines
d. Gas dryers. Answer: B
◉ Exclusions to the sale must be removed __________________.
a. Prior to delivery of possession
b. At the convenience of the seller
c. When the offer becomes a binding contract
d. Two days prior to closing. Answer: A
◉ A(n) _________________ occurs when a buyers assumes and agrees to
pay the seller's existing mortgage.
a. Loan assumption
b. Seller liability
c. Seller lien
d. Credit approval. Answer: A
◉ Paragraph C of the Seller Financing Addendum refers to the
_________________, and specifies the method of repayment.
